Evolution Seeks to Add Playtech as Defendant in U.S. Defamation Case Over Alleged Smear Campaign

Evolution Gaming Group AB ( (SE:EVO) ) just unveiled an update.

Evolution AB has moved to add Playtech, Juda Engelmayer, and others as defendants in its ongoing U.S. defamation lawsuit, alleging they orchestrated a covert smear campaign to damage Evolution’s reputation and weaken its position in the North American online gaming market. The company claims Playtech hired investigative firm Black Cube, law firm Calcagni & Kanefsky, and PR firm HeraldPR to create and disseminate a misleading report accusing Evolution of regulatory violations, which was then submitted to U.S. gaming regulators and leaked to media, causing financial and reputational harm.

According to Evolution, the litigation has revealed that Playtech paid significant success fees to Black Cube, selectively edited secretly recorded conversations with Evolution personnel, and hid exculpatory evidence to support a prearranged narrative aimed at prompting regulators to revoke Evolution’s gaming licenses. Evolution further argues that Playtech’s own regulatory issues, including a sanction in Sweden, undercut its accusations and illustrate an anti-competitive strategy to undermine a rival, with Evolution asserting confidence in its compliance framework as it seeks to hold Playtech and its alleged accomplices liable.

The most recent analyst rating on (SE:EVO) stock is a Sell with a SEK575.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

More about Evolution Gaming Group AB

Evolution AB is a leading B2B provider and innovator of online casino games, supplying live dealer and digital gaming content to regulated operators worldwide. The company focuses heavily on the North American online gambling market, where it competes with other technology suppliers to secure licenses and grow its footprint among casinos and iGaming platforms.

Average Trading Volume: 715,284

Technical Sentiment Signal: Sell

Current Market Cap: SEK126.7B

Learn more about EVO stock on TipRanks’ Stock Analysis page.